ITAT Directs AO to delete Addition made u/s 68 of Income Tax Act based on Mere Suspicion [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) directed the Assessing Officer (AO) to delete the addition made under section 68 of the Income Tax Act,1961 based on mere suspicion.  Abhishek Doshi, the appellant assessee was an individual who derives income from business, capital gains, and income from other sources. The assessee filed an appeal against the order passed by the…